BidaskClub Downgrades Cardiovascular Systems (NASDAQ:CSII) to Hold

BidaskClub lowered shares of Cardiovascular Systems (NASDAQ:CSII) from a buy rating to a hold rating in a research report sent to investors on Wednesday, BidAskClub reports.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Cardiovascular Systems from a hold rating to a buy rating and set a $39.00 target price on the stock in a research report on Thursday, April 18th. Needham & Company LLC reaffirmed a hold rating on shares of Cardiovascular Systems in a research report on Thursday, May 2nd. ValuEngine raised Cardiovascular Systems from a buy rating to a strong-buy rating in a research report on Tuesday, March 5th. Finally, Bank of America lowered Cardiovascular Systems from a buy rating to an underperform rating and set a $42.00 price target on the stock. in a report on Thursday, April 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Cardiovascular Systems has a consensus rating of Buy and an average price target of $44.00.

Shares of NASDAQ CSII opened at $39.85 on Wednesday. Cardiovascular Systems has a 1-year low of $24.84 and a 1-year high of $42.64. The company has a current ratio of 4.25, a quick ratio of 3.78 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 797.00 and a beta of 1.84.

Cardiovascular Systems (NASDAQ:CSII) last issued its earnings results on Wednesday, May 1st. The medical device company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. Cardiovascular Systems had a return on equity of 1.47% and a net margin of 0.84%. The firm had revenue of $63.31 million for the quarter, compared to analyst estimates of $62.80 million. Sell-side analysts anticipate that Cardiovascular Systems will post -0.01 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Quantamental Technologies LLC acquired a new position in shares of Cardiovascular Systems during the fourth quarter valued at $37,000. Pearl River Capital LLC acquired a new position in shares of Cardiovascular Systems during the first quarter valued at $98,000. BerganKDV Wealth Management LLC acquired a new position in shares of Cardiovascular Systems during the first quarter valued at $155,000. Legal & General Group Plc increased its holdings in shares of Cardiovascular Systems by 21.7% during the fourth quarter. Legal & General Group Plc now owns 6,065 shares of the medical device company’s stock valued at $173,000 after purchasing an additional 1,082 shares during the period. Finally, LS Investment Advisors LLC acquired a new position in shares of Cardiovascular Systems during the first quarter valued at $201,000. 92.06% of the stock is currently owned by institutional investors.

Cardiovascular Systems Company Profile

Cardiovascular Systems, Inc, a medical device company, develops, manufactures, and commercializes various devices to treat vascular and coronary diseases in the United States. The company offers peripheral arterial disease products, including Diamondback 360 Peripheral, Predator 360, Stealth 360 Peripheral Orbital Atherectomy System (OAS), Diamondback 360 60cm Peripheral OAS, Diamondback 360 Low Profile Peripheral, Diamondback 360 1.50 Peripheral, Diamondback 360 2.00 Peripheral, Diamondback 360 200cm Peripheral, and Diamondback 360 180cm Peripheral, which are catheter-based platforms for treating a range of plaque types in leg arteries above and below the knee, including calcified plaque, as well as address various limitations associated with surgical, catheter, and pharmacological treatment alternatives.

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